The Robustness of Hedonic Price Estimation: Urban Air Quality

The paper did not originally have an abstract. It explores the robustness of hedonic pricing estimation, focusing on four areas: 1) variable selection and treatment, 2) measurement error, 3) functional form, and 4) error distribution. The paper offers insights to guide the future conduct of hedonic environmental benefit studies.

[1]  Edward E. Leamer,et al.  Sensitivity Analyses Would Help , 1985 .

[2]  J. Spitzer,et al.  Variance Estimates in Models with the Box-Cox Transformation: Implications for Estimations and Hypothesis Testing , 1984 .

[3]  W. W. Muir,et al.  Regression Diagnostics: Identifying Influential Data and Sources of Collinearity , 1980 .

[4]  Scott E. Atkinson,et al.  A Bayesian approach to assessing the robustness of hedonic property value studies , 1987 .

[5]  Richard V. Butler,et al.  The Specification of Hedonic Indexes for Urban Housing , 1982 .

[6]  Edward E. Leamer,et al.  Consistent Sets of Estimates for Regressions with Errors in All Variables , 1984 .

[7]  David S. Brookshire,et al.  Valuing Public Goods: A Comparison of Survey and Hedonic Approaches , 1982 .

[8]  S. Rosen.  Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition , 1974, Journal of Political Economy.

[9]  R. Frisch.  Statistical confluence analysis by means of complete regression systems , 1934 .

[10]  J. Roback.  Wages, Rents, and the Quality of Life , 1982, Journal of Political Economy.

[11]  Michael McAleer,et al.  What Will Take the Con out of Econometrics , 1985 .

[12]  S. Cosslett.  DISTRIBUTION-FREE MAXIMUM LIKELIHOOD ESTIMATOR OF THE BINARY CHOICE MODEL1 , 1983 .

[13]  R. Koenker,et al.  Robust Tests for Heteroscedasticity Based on Regression Quantiles , 1982 .

[14]  K. Mäler.  A note on the use of property values in estimating marginal willingness to pay for environmental quality , 1977 .

[15]  Joel L. Horowitz,et al.  Bidding models of housing markets , 1986 .

[16]  C. Manski.  MAXIMUM SCORE ESTIMATION OF THE STOCHASTIC UTILITY MODEL OF CHOICE , 1975 .

[17]  V. Smith,et al.  Urban amenities and public policy , 1987 .

[18]  R. Halvorsen,et al.  Choice of functional form for hedonic price equations , 1981 .

[19]  Kenneth F. Wieand.  AIR POLLUTION AND PROPERTY VALUES: A STUDY OF THE ST. LOUIS AREA* , 1973 .